Property-backed loans

Property loans are available to assist with the purchase of owner occupied freehold or long leasehold property within London, or to support the growth of businesses operating from their own property.

For ‘not-for-profit’ organisations, loans up to £250,000 are available, at an interest rate of 5.5%pa to 6.5%pa.*

For commercial organisations, loans up to £100,000 are available, at interest rates from10.3%pa to 11.5%pa.*

Loans may be up to 80% of the property value, and may be offered as a second mortgage following another loan.  For organisations with a good trading history, loans above 80% may be considered, subject to additional security and/or directors’ guarantees.

Who should apply?

• Businesses seeking to raise additional finance against their property
• Help ‘not-for-profit’ organisations to purchase property on beneficial terms
• Alongside a standard commercial loan to enable an overall 80% LTV (or higher)

Eligibility

• Property loans are available to new businesses and existing businesses that have been trading ‘successfully’ for at least a year
• They will finance the expansion of the business, including property acquisition, but not repay existing borrowing
• Businesses must be located in or support disadvantaged communities or individuals in London

Apply now

Download the application form in pdf format here

Download the application form in word format here

• Complete an application form
• Ask your business adviser or another experienced business leader to send us a letter of support
• Send these documents to the Wholesale Loan Fund, GLE oneLondon, 20 St Thomas Street, London SE1 9RS or email to wholesaleloans@gle.co.uk
• You may be asked to prepare a business plan to support your request

These loans are provided by London Business Loans (Wholesale) Ltd, which is managed by Greater London Enterprise Ltd, and supports organisations across London that are providing finance to help businesses start or grow. 

All loans are subject to a credit assessment. Further terms and conditions may apply.  *Interest rates may vary from time to time – correct at 10/1/08